TeraWulf surges on cloud lease, Google deal

** Data center firm TeraWulf's WULF.O shares rise 25.5% to $6.85 premarket

** Co enters two 10-year high-performance computing colocation agreements with AI cloud platform Fluidstack

** Agreement represents $3.7 billion in contracted revenue over the initial 10-year terms and includes two five-year extension options, which, if exercised, would bring the total contract revenue to approximately $8.7 billion

** Google GOOGL.O will backstop $1.8 billion of Fluidstack’s lease obligations and will receive an approximately 8% pro forma equity ownership stake in WULF

** WULF shares down ~3.5% YTD